-- / 42 shares

IPO Details

Issue Date

--

Investment/lot

--

Price Range

340 - 357

Lot Size

42

IPO Size

₹ 960.35 Cr

IPO Listing Details

Listing On

22 Dec'22

Issue Price

357

Listed Price

₹ 361

Retail Gain/Listing Gain

1.12%

Start date

End date

Allotment of bids

Refund Initiation

Listing on exchange

Sula Vineyards Limited is India’s largest wine producer and seller as of March 31, 2022. It has been a consistent market leader in the Indian wine industry in terms of sales volume and value (based on the total revenue from operations) since Fiscal 2009 crossing 50% market share by value in the domestic 100% grapes wine market in Fiscal 2012. (Source: Technopak Report)

The company's business can be broadly classified under two categories:

  1. The production of wine, the import of wines and spirits, and the distribution of wines and spirits (the Wine Business); and
  2. The sale of services from ownership and operation of wine tourism venues, including vineyard resorts and tasting rooms (the Wine Tourism Business).

However, since the Wine Tourism Business is incidental and complements the overall Wine Business, the company's chief operating decision makers (which includes CEO, CFO, COO, and members of the board) monitor and review the operating result of the Group as a single operating segment of manufacture, purchase, and sale of alcoholic wines and spirits.

The company distributes wines under a bouquet of popular brands. In addition to the flagship brand “Sula,” popular brands include “RASA,” “Dindori”, “The source,” “Satori”, “Madera” & “Dia” with its flagship brand “Sula” being the “category creator” of wine in India. Currently, it produces 56 different labels of wine at four owned and two leased production facilities located in the Indian states of Maharashtra and Karnataka. The company serviced close to 8,000 hotels, restaurants and caterers, which makes it the leader in terms of footprint among wine players in India, and experienced a significant rise in its off-trade sales in the last 3 years with off-trade sales contributing 72.25% of the company’s secondary sales during Fiscal 2022, compared to 61.33% in Fiscal 2020.

As India’s largest wine producer, the company aims to harness its market leadership position for future growth opportunities in the Indian wine market with its wide range of offerings for consumers across various price points. Its consumer proposition focuses on offering consumers extensive varieties of wine at varying price points, with 56 labels to choose from, from a portfolio of 13 distinct brands as of September 30, 2022. Furthermore, its wines are available at various price points between ₹250 to ₹1,895 per 750 ml bottle in Maharashtra, making them accessible for consumers with different budgets - appealing to mass markets as well as having a premium product strategy.

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Established market leader in the Indian wine industry with the leading brand “Sula”
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Largest wine producer in India
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Largest wine distribution network and sales presence
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Leader and pioneer of the wine tourism business in India
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Here are a few strategies Sula Vineyards Limited has for its business:

  • Continuous focus on its "Own Brands"
  • Focus on premiumization of its product portfolio
  • Increasing wine awareness and penetrating further into Tier-1 and 2 Indian cities
  • Continue to make sustainability and climate change readiness the heart of its long term strategy
  • Continue to expand its Wine Tourism Business

And finally here’s a look at key financials of Sula Vineyards Limited.

Particulars (in Rs. million)

Particulars (in Rs. million)

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Top Sula Vineyards Ltd IPO FAQs

Sula Vineyards Ltd will list on 2022-12-22.

960.35 is the issue size of Sula Vineyards Ltd IPO.

The price band of Sula Vineyards Ltd IPO is ₹340 to ₹357.

The Sula Vineyards Limited IPO has an issue size of Rs. 960.35 crores. The IPO opens for subscription on 12th December and ends on 14th December.

The allotment dates are yet to be announced.

KFin Technologies Limited is the registrar for this IPO.

You can read more about Sula Vineyards Limited and its IPO from the company’s red herring prospectus (RHP) here: Sula Vineyards Limited RHP.

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